More lux­ury apart­ments head­ing Balls­bridge way

The Irish Times - Thursday - Property - - Property The Market -

It’s been a decade since the Block last wit­nessed de­vel­op­ers buy­ing up multi-mil­lion euro homes in Dublin 4 only to de­mol­ish them and re­de­velop as apart­ments, but it looks like we may have come full cir­cle.

Two houses on ex­clu­sive Her­bert Park in Balls­bridge are set to be de­mol­ished un­der am­bi­tious plans sub­mit­ted by a com­pany named Lord­glen, owned by the McSharry and Kennedy build­ing fam­i­lies – own­ers of the neigh­bour­ing Her­bert Park Ho­tel.

The fam­i­lies bought 36 and 38 Her­bert Park last year for a com­bined ¤6.2 mil­lion and now hope to re­place them with two four-storey apart­ment build­ings. In all, they will com­prise 18 apart­ments (4 one-beds, 10 two-beds and 4 three-beds) and will ex­tend to 3,388sqm (36,500sqft).

The apart­ment blocks will in­clude com­mu­nal fa­cil­i­ties such as a gym, me­dia room, recre­ational room and a meet­ing room. The new devel­op­ment will have a valu­able Her­bert Park ad­dress, di­rect park views and is des­tined to be­come one of Dublin’s most cov­eted, and ex­pen­sive, apart­ment schemes if plan­ning is granted.

Plans have al­ready been ap­proved for the fam­i­lies’ new apartho­tel on the for­mer Cablelink site at Pem­broke Place, lo­cated di­rectly be­hind the two Her­bert Park houses.

That site was val­ued at ¤27 mil­lion at the height of the market, and later sold in 2013 to Gi­bral­tar-based Pem­broke Part­ners for just over ¤3 mil­lion, who resold it after a short stint of own­er­ship.

Cur­rently per­mis­sion is granted for a 43 unit apartho­tel on the site, how­ever the fam­i­lies are hop­ing to en­large this to a 58 unit devel­op­ment, some 2,904sqm (31,250sqft) in size.

The apartho­tel and apart­ment de­vel­op­ments will have f 38 car park­ing and 51 bi­cy­cle spa­ces at base­ment level, how­ever they will have sep­a­rate base­ment en­trances.

The fam­i­lies’ de­ci­sion to apply for plan­ning per­mis­sion for a res­i­den­tial apart­ment block, rather than us­ing the full site for apartho­tel uses, un­der­lines the ev­i­dent de­mand for lux­ury apart­ments in Balls­bridge.

No doubt the de­ci­sion has been fu­elled by newly launched Lans­downe Place devel­op­ment nearby, where apart­ments are com­mand­ing as much as ¤6.5 mil­lion

The own­ers of Her­bert Park Ho­tel bought 36 and 38 Her­bert Park for ¤6.2 mil­lion and plan two four-storey apart­ment build­ings

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